Published: 2025-04-14T03:23:07.000Z
Chart USD/IDR Updates: Leaning lower in consolidation, room for deeper pullback
Technical Analyst
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Consolidating at the 16729 low but pressure remains on the downside
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 17115 | * | projection | S1 | 16729 | * | 10 Apr low | |
| R3 | 17050 | * | projection | S2 | 16657 | ** | Mar high | |
| R2 | 17000 | ** | psychological | S3 | 16590 | ** | Feb high | |
| R1 | 16970 | ** | 9 Apr all-time high | S4 | 16535 | * | 19 Mar high |
Asterisk denotes strength of level
03:20 GMT - Consolidating at the 16729 low but pressure remains on the downside and see scope to extend losses from the 16970, all-time high. Daily studies have turned lower from overbought areas and suggest scope to extend losses to the strong support at the 16657/16590, March and February highs. Break here will open up room for deeper correction of the strong run-up from the 15070 September low to the 16475, 2024 year high. Meanwhile, resistance at the 16970 high is expected to cap. Clearance, if seen, will extend the underlying bull trend to the 17000 psychological level.